Kohl’s Q1 sales and earnings decline

Kohl’s Corporation sales for the for the quarter ended April 30, 2016 stood at 3,972 million dollars compared to 4,123 million dollars, same quarter last year, representing decline of 3.7 percent. Net income was 17 million dollars against 127 million dollars in the same quarter in 2015 and diluted earnings per share were 0.09 dollar compared to 0.63 dollar last year’s first quarter.

Commenting on the company’s performance, Kevin Mansell, Kohl's Chairman, CEO and President, said, "First quarter sales were challenging. Despite the sales environment, we were able to manage our gross margin and inventory levels consistent with our expectations as we took the markdowns necessary to clear excess inventory."

On May 11, 2016, the Kohl's Board of Directors declared a quarterly cash dividend on the company's common stock of 0.50 dollar per share. The company ended the quarter with 1,167 stores in 49 states, compared with 1,164 stores at the same time last year.

picture:facebook.com/kohls